Taiwan - Economy
|
|
Economy - overview
|
| Taiwan has a dynamic capitalist economy with gradually decreasing guidance of investment and foreign trade by the authorities. In keeping with this trend, some large, state-owned banks and industrial firms are being privatized. Exports have provided the primary impetus for industrialization. The island runs a large trade surplus, and its foreign reserves are among the world's largest. Despite restrictions on cross-strait links, China has overtaken the US to become Taiwan's largest export market and its second-largest source of imports after Japan. China is also the island's number one destination for foreign direct investment. Strong trade performance in 2007 pushed Taiwan's GDP growth rate above 5%, and unemployment is below 4%. |
|
GDP (purchasing power parity)
|
| $695.4 billion (2007 est.) |
|
GDP (official exchange rate)
|
| $383.3 billion (2007 est.) |
|
GDP - real growth rate
|
| 5.7% (2007 est.) |
|
GDP - per capita (PPP)
|
| $30,100 (2007 est.) |
|
GDP - composition by sector
|
|
|
Labor force
|
| 10.78 million (2007 est.) |
|
Labor force - by occupation
|
|
|
Unemployment rate
|
| 3.9% (2007 est.) |
|
Population below poverty line
|
| 0.95% (2007 est.) |
|
Household income or consumption by percentage share
|
|
|
Inflation rate (consumer prices)
|
| 1.8% (2007 est.) |
|
Investment (gross fixed)
|
| 21.2% of GDP (2007 est.) |
|
Budget
|
|
|
Public debt
|
| 27.9% of GDP (2007 est.) |
|
Agriculture - products
|
| rice, corn, vegetables, fruit, tea; pigs, poultry, beef, milk; fish |
|
Industries
|
| electronics, petroleum refining, armaments, chemicals, textiles, iron and steel, machinery, cement, food processing, vehicles, consumer products, pharmaceuticals |
|
Industrial production growth rate
|
| 7.5% (2007 est.) |
|
Electricity - production
|
| 235 billion kWh (2006) |
|
Electricity - production by source
|
|
|
Electricity - consumption
|
| 221 billion kWh (2006) |
|
Electricity - exports
|
| 0 kWh (2007 est.) |
|
Electricity - imports
|
| 0 kWh (2007) |
|
Oil - production
|
| 406 bbl/day (2006 est.) |
|
Oil - consumption
|
| 816,700 bbl/day (2006 est.) |
|
Oil - exports
|
| 289,200 bbl/day (2006) |
|
Oil - imports
|
| 1.208 million bbl/day (2006) |
|
Oil - proved reserves
|
| 2.24 million bbl (1 January 2007 est.) |
|
Natural gas - production
|
| 462.9 million cu m (2006) |
|
Natural gas - consumption
|
| 10.28 billion cu m (2006) |
|
Natural gas - exports
|
| 0 cu m (2007) |
|
Natural gas - imports
|
| 10.16 billion cu m (2006) |
|
Natural gas - proved reserves
|
| 13.55 billion cu m (2007 est.) |
|
Current account balance
|
| $31.7 billion (2007) |
|
Exports
|
| $246.7 billion f.o.b. (2007 est.) |
|
Exports - commodities
|
| electronic and electrical products, metals, textiles, plastics, chemicals, auto parts (2002) |
|
Exports - partners
|
| China 24%, Hong Kong 15%, US 13.4%, Japan 6.7% (2007 est.) |
|
Imports
|
| $219.3 billion f.o.b. (2007 est.) |
|
Imports - commodities
|
| electronic and electrical products, machinery, petroleum, precision instruments, organic chemicals, metals (2002) |
|
Imports - partners
|
| Japan 21%, China 12.7%, US 12.2%, South Korea 7.1%, Saudi Arabia 4.6% (2007 est.) |
|
Reserves of foreign exchange and gold
|
| $274.7 billion (31 December 2007) |
|
Debt - external
|
| $98.44 billion (31 December 2007) |
|
Stock of direct foreign investment - at home
|
| $92.83 billion (2007) |
|
Stock of direct foreign investment - abroad
|
| $108.9 billion (2007) |
|
Market value of publicly traded shares
|
| $654 billion (28 December 2007) |
|
Currency (code)
|
| New Taiwan dollar (TWD) |
|
Currency code
|
| TWD |
|
Exchange rates
|
| New Taiwan dollars per US dollar - 32.84 (2007), 32.534 (2006), 31.71 (2005), 34.418 (2004), 34.575 (2003) |
|
Fiscal year
|
| calendar year |